Summit, NJ Home Values & Market Trends
Real estate market trends reflect that there have been 265 transactions over the past year in Summit. The median value for residential home transactions that occurred over the previous year is $1,688,398. The number of current listings in Summit is 162, and the percentage of properties for sale in the city is 162.00%. Summit, NJ currently has 20 properties in foreclosure, 0 bank owned properties, 2 properties headed for auction, and 162 properties for sale.
Summit, NJ Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 07901 | $ 1,688,398 $ 712/sqft |
Housing Market Summary for Summit, NJ
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $1.5M | $1.6M | 9.63% |
| Median Sold Price | $1.2M | $1.1M | -0.88% |
| Homes For Sale | 80 | 155 | 93.75% |
| Homes Sold | 165 | 89 | -46.06% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Summit, NJ
Browse Homes in Summit, NJ
Summit home values range from $306,233 to $5,995,000. The median estimated value of a home in Summit is $1,688,398. The median list price of a home is 1,599,000, and the total count of properties in the city is 290.
- Pre-ForeclosurePre-foreclosure homes account for 6.21% of all residential properties in Summit, NJ with 07901 containing 18 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Summit, NJ; of that zips, the estimated home value for pre-foreclosure homes ranges from $2,093,900 in 07901 to the lowest home value of $572,566 in 07901.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Summit, NJ ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Summit, NJ. There is 1 zips within Summit, NJ; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions07901 has 2 auction properties, the highest number of properties going to auction in a single zip in the state of Summit, NJ. Auction homes and other auction properties account for 0.69% of all properties in Summit, NJ. There is 1 zips within Summit, NJ; of that zips, the median estimated home value for homes going to auction ranges from $1,576,675 in 07901 to the lowest value of $1,127,530 in 07901.
Compare Nearby Cities
More Real Estate Resources for Summit, NJ
Guide for Summit, NJ
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
Learn how to buy a foreclosed home in Chicago, Illinois.
Tips to find a home in pre-foreclosure and get a good deal on a new home.
